Author: 0xewwierw

Lead

As the FOMO sentiment around Bitcoin Layer 2 fades, projects that continue to invest in infrastructure and user friendliness may ultimately emerge as winners.

According to data from the BitVM Chinese Community, there are currently over 50 verifiable Bitcoin Layer 2 projects on the market, some of which have been under construction since 2013, while others were just initiated this year, covering various subtypes such as sidechains and Rollups. In this fierce market competition, Bitlayer, a Bitcoin Layer 2 native network based on BitVM technology, is relying on its own technological innovation and continuous ecological construction to become the fastest-growing Layer 2 project in the Bitcoin ecosystem.

As a Bitcoin Layer 2 solution based on BitVM, Bitlayer has proposed Layered Virtual Machine technology, using zero-knowledge proofs and optimistic verification mechanisms to support various computations. In addition, Bitlayer has built a two-way locked asset bridge through OP-DLC and BitVM bridge, achieving the same level of security as the Bitcoin Layer 1.

Above technological innovation is the ecosystem. A good ecosystem can promote project development and progress, forming a positive cycle to encourage more projects and resources to invest in ecological construction. On April 29th this year, Bitlayer launched a $50 million token airdrop incentive for developers, attracting developers to migrate to EVM and support Bitlayer's native Dapps, while encouraging project parties to distribute the airdrops to active users on the chain at the lowest cost to complete the cold start.

Currently, Bitlayer's developer airdrop plan seems to be effective. The following is the recent official ecological panorama of Bitlayer, which shows the vigorous development of the ecosystem, although it is still in a relatively early stage.

Official data shows that there are currently hundreds of projects building on the Bitlayer network, covering various sectors such as infrastructure and developer tools, wallets, DeFi, NFT, games and metaverse, as well as RWA. There are mature infrastructure projects such as Ankr, Polyhedra Network, Meson, Apro, and imToken that pave the way for users to be attracted to Bitlayer, as well as Bitlayer native applications such as Bitsmiley, Avalon Finance, bitCow, Lorenzo, Pell, Bitparty, Enzo, and Marcaron that demonstrate the potential for the entire ecosystem.

The following will briefly introduce the important projects in the current Bitlayer ecosystem. The data related to TVL mentioned below is as of June 19th, and it is hoped that it will be helpful to users who are concerned about the Bitlayer ecosystem.

DeFi

Avalon Finance

Avalon Finance is an important solution for unlocking trillions of dollars in BTC, providing the first CeDeFi lending platform, allowing BTC holders to trust custody services, unlock BTC liquidity, and earn interest in DeFi. Avalon Finance aggregates all liquidity, introducing a variety of assets including BTC, ERC20, BRC20, BTC ETF, and real-world assets (RWA) to open the door for millions of new users. Currently, Avalon Finance's products include CeDeFi BTC lending and DeFi lending (applicable to ERC20, BRC20, and RWA assets).

Current TVL: $287.13M

bitSmiley

bitSmiley is a Bitcoin blockchain protocol based on the Fintegra framework, consisting of three main components: a decentralized over-collateralized stablecoin protocol, a locally trustless lending protocol, and a derivatives protocol. These components collectively provide a comprehensive financial ecosystem on the Bitcoin blockchain, enhancing its functionality and practicality in the decentralized finance (DeFi) field.

Current TVL: $33.83M

Lorenzo

Lorenzo is dedicated to building the first Bitcoin liquidity financial layer based on the Babylon ecosystem. The platform connects Bitcoin collateralizers (regardless of the amount held) with high-quality projects in need of liquidity and security, providing the simplest and smoothest BTC asset re-collateralization experience for crypto investors. The Lorenzo Protocol releases collateral asset liquidity and captures the best collateral returns, using an innovative form of interest separation to make it a reality to build complex DeFi products based on BTC, further exploring more possibilities in Bitcoin finance.

Macaron

Macaron is the native DEX on the Bitlayer chain, providing users with a range of tools including liquidity farming, staking incentives, trade-to-earn, airdrops, and more to increase user earnings. With the technical and ecological support of Bitlayer, the team is committed to building excellent products to make the Macaron DEX more secure, cheaper, and faster.

Current TVL: $30.82M

TrustIn Finance

TrustIn Finance is a native permissionless lending protocol on Bitlayer, driven by a Bitcoin security equivalent Layer 2 solution built on BitVM. Users can use encrypted assets as collateral to borrow underlying assets faster and more securely on Trustin, while also earning interest by providing assets to the protocol.

Current TVL: $10.83M

bitCow

bitCow is an AMM protocol that provides stable swaps and automatic concentrated liquidity.

Current TVL: $33.83M

Enzo Finance

Enzo Finance is a decentralized lending protocol on the Bitlayer chain with advanced algorithm technology, supporting LP, NFT, and metaverse asset lending.

Current TVL: $10.77M

Nekoswap

Nekoswap aims to be a fully community-driven, fair, transparent, and decentralized exchange, including functions such as swap, liquidity pool, farm, launchpad, and runic trading. NekoRunes will be the first runic asset token on Nekoswap.

Infrastructure

Pell Network

Pell Network is the first actively validated service (AVS) network built on a re-collateralization protocol in the Bitcoin ecosystem. Pell Network constructs a unified Pell network ledger through cross-chain atomic communication technology, ZK-Rollup, and other technologies, aggregating BTC and its LSD liquidity assets dispersed across various Layer 2s, thereby realizing a decentralized governance AVS ecological service network, enabling Bitcoin to participate in the secure verification process of a wide range of decentralized ecological applications to expand revenue scenarios.

Current TVL: $76.69M

Apro Oracle

APRO Oracle

APRO Oracle is an innovative system aimed at creating stablecoins and building a bridge to the Bitcoin mainnet. It ensures the security and authenticity of price information through a two-step price aggregator, while minimizing operational costs. The system also utilizes socket noise to generate random numbers, providing random services for various projects and ensuring network security and reliability through a dual-layer network.

Cross-chain Bridges

Polyhedra Network

Polyhedra Network is a leading global ZK interoperability infrastructure, and its developed zkBridge has become one of the largest cross-chain infrastructures in the multi-chain ecosystem, aiming to build the world's largest Bitcoin interoperable ecosystem. Currently, Bitlayer has partnered with Polyhedra Network to achieve fast and secure interoperability for Bitcoin Layer 2 through zkBridge.

Meson Finance

Meson Finance now supports over 50 public chains and Layer 2 networks, making it one of the most important Bitcoin cross-chain tools.

Owlto Finance

Owlto Finance is a user-friendly, secure, fast, and low-cost asset transfer cross-chain interoperability protocol that supports direct asset transfers between different Layer 2 networks.

Orbiter Finance

Orbiter Finance is a decentralized cross-rollup bridge for transferring native assets on Ethereum. Orbiter has Sender and Maker roles, where Maker provides liquidity when Sender initiates a transfer. Smart contracts ensure the security of the entire process. If Maker behaves maliciously and causes the transfer to fail, Sender can request arbitration from the contract using Maker's collateral and receive excess compensation.

Bool Network

Bool Network is a permissionless, decentralized, and secure Bitcoin validation layer designed to safely expand the Bitcoin network without changing the Bitcoin consensus, thereby promoting the prosperity of the Bitcoin ecosystem.

Wallets

OKX Wallet

OKX Web3 Wallet is a non-custodial, decentralized multi-chain wallet with a built-in DEX transaction aggregator for cross-chain swapping, a one-stop on-chain investment tool for DeFi, and a heterogeneous multi-chain aggregation trading platform (supporting Crypto, Ordinals, and NFT). The wallet provides easy access to 1,000+ DApp protocols. Currently, OKX Wallet supports the Bitlayer mainnet and ecosystem.

TokenPocket

TokenPocket is a globally leading multi-chain self-custody wallet, supporting Ethereum, BNB Chain, Polygon, and other EVM-compatible networks, as well as Ethereum Layer 2, Bitcoin, TRON, Solana, Dogecoin, and other non-EVM-compatible networks. Currently, TokenPocket supports the Bitlayer mainnet and ecosystem.

Bitget Wallet

Bitget Wallet is a globally leading one-stop Web3 multi-chain wallet, providing users with comprehensive on-chain products and DeFi services, including wallets, swap trading, NFT trading, and DApp browsers. Currently, Bitget Wallet supports the Bitlayer mainnet and ecosystem.

NFT

NFTGo

NFTGo is a globally leading one-stop NFT data aggregation platform. NFTGo aims to aggregate, analyze, and present NFT data from across the web, providing functions such as a search engine, data visualization, rarity queries, whale tracking, and NFT initial offerings.

Meme

bone

bone is the winning project of the bitSmiley native stablecoin project's public beta event, The Trumeme Show. It was deployed on the Bitlayer mainnet on May 1st and completed destruction on May 3rd.

Cat Driving Bitcoin

Cat Driving Bitcoin ($CBD) is the native MEME on the Bitlayer chain, primarily featuring cat and driving elements visually. $CBD aims to disrupt the meme economy by building a thriving, modern, and towering Bitcoin world. The project aims to become the largest community asset on Bitlayer.

Demoji

Demoji is the launch of the Meme token $moji by DeBox on Bitlayer, with 100% of the tokens distributed as airdrops to DeBox and Bitlayer ecosystem participants (NFT holders, stakers, lucky helmets, Bone/CBD buyers, etc.).

Launchpad

Pumpad

Pumpad is a native project of Bitlayer. As a one-stop Launchpad for the Bitcoin ecosystem, Pumpad supports issuers in automatically adding DEX liquidity after issuing VGA assets based on IPOS standards and deploying automated market maker protocols.

pika

Pika is the first IDO platform on Bitlayer, dedicated to helping new projects or startups grow. As a comprehensive service provider, Pika offers comprehensive support for projects, including incubation, fundraising, token listing, backend services, and community development.

RWA

Zoth

Zoth is an ecosystem connecting traditional finance and on-chain finance liquidity and RWA. Zoth's first product, ZOTH - Fixed Income (ZOTH-FI), is an institutional-grade fixed income market, providing RWA such as cross-border trade financing, treasury bills, and sovereign bonds.

Blockchain Games

4Metas

```

4Metas is completely changing the entertainment landscape by creating a unified platform for gaming, streaming, and virtual experiences. It is not just a platform; it is a Web3 native ecosystem that integrates GameFi, social features, metaverse, and AR/VR in a dynamic space.

Moonshot

Moonshot (formerly known as Nearcrash) is a game suitable for adventure and thrill enthusiasts, aiming to become the top-ranked multi-chain Crash game.

GamerBoom

GamerBoom is an intent-centric game social platform for the digital native generation, combining the essence of Web2 games with the possibilities of Web3, pushing Web3 into mainstream gaming.

Woof Woof West

Woof Woof West is a social and user interaction-based play-to-earn game deployed on Bitlayer.

Richverse

Richverse is the first asset gamified network that integrates business, competition, social, and commitment elements, providing players with asset collateral, consumption, and other gaming scenarios. Starting with the first Monopoly-type game, Richverse aims to make the Bitcoin ecosystem richer and more fun.

Anome

Anome is an NFT-derived asset issuance and lending platform that enters the full-chain gaming scene, aiming to help users unlock the liquidity and value of NFT assets by building an integrated ecosystem of DeFi, NFTFi, and GameFi, becoming the world's largest NFT collateral lending protocol in terms of TVL. Anome's "NFT Melee" game is the world's first AI-driven, UGC, collectible, full-chain card game that supports ERC404 assets. Players can improve their combat capabilities by training the game AI, adding more fun to the game.

Metaverse

Redbrick

Redbrick is a UGC-based metaverse platform that provides land builders and 3D studios, creating a token economy where creators are fairly rewarded for the value of their creations.

Summary

According to DefiLlama data (https://defillama.com/chain/Bitlayer), Bitlayer's TVL is currently $361M, with significant room for growth compared to Ethereum L2. However, considering that it has only been 2 months since the deployment of Bitlayer mainnet V1, the liquidity scale and number of ecosystem projects currently gathered by the project are far ahead of similar projects.

Overall, Bitlayer is still in its early stages, and many ecosystem projects still need time to be tested and further unleash their potential.

However, with the continuous advancement and implementation of the developer airdrop incentive program launched by Bitlayer, as well as the ongoing escalation of the Head Mining Festival series incentive activities, it is expected that more and more native Bitlayer applications will appear soon, new assets will start to circulate, and the resulting ecological prosperity will rapidly increase Bitlayer's valuation.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。